Newsmax More Valuable Than Fox News Owner After 2,230% IPO Pop
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Conservative media outlet Newsmax Inc.’s meme-stock moment has given it a market value greater than Fox Corp.’s, with shares surging 2,230% since its debut earlier this week.
The stock soared nearly 180% to close at $233 on Tuesday, building on a 735% surge in its debut session which saw the shares halted multiple times. Tuesday’s jump added $19.2 billion in market value as over 10 million shares swapped hands.